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MLGW seeks $250 million bond to fund grid modernization; committee sends authorization to full council
Summary
Memphis Light, Gas & Water presented a consent package including a proposed issuance of up to $250 million in electric system revenue bonds for transformers, circuit breakers and grid‑modernization components; the committee moved the enabling resolution forward to the full council with a positive recommendation.
Doug McGowan, president and CEO of Memphis Light, Gas & Water, briefed council members on a multi‑item consent agenda and a proposed bond issuance to finance long‑lived electric system equipment and grid modernization.
"To date, you all have approved $267,000,000 of spending for MLGW. Today we're requesting about that same amount, dollars…
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